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Starlink’s Expansion to Propel SpaceX Revenue to $15Bn by 2024

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SpaceX is poised to report $9 billion in revenue for this year and is projected to hit $15 billion in sales in 2024, according to undisclosed sources.

Starlink’s Expansion to Propel SpaceX Revenue to $15Bn by 2024

The figures offer a rare glimpse into the financial health of the company led by entrepreneur Elon Musk, according to Investorsking.

SpaceX generates revenue through two core businesses: launching payloads into space aboard its reusable rockets and providing internet services through its Starlink constellation.

Starlink, the internet service venture, is expected to outpace the revenue from the launch business next year as its services expand to additional regions across the globe.

This shift will result in Starlink accounting for the majority of SpaceX’s revenue.

The specifics of SpaceX’s earnings have been closely guarded, but it is recognized that the company’s valuation recently reached approximately $150 billion in a tender offer earlier this year.

While the company did not respond to requests for comments, it is noteworthy that SpaceX is projected to register earnings exceeding $3 billion, excluding certain items.

Musk has been optimistic about the prospects of Starlink, suggesting it might be spun off in a public listing as the service’s cash flows become more predictable.

SpaceX has committed substantial investments to expand its satellite constellation and deliver high-speed internet services.

For 2023, Starlink’s revenues are anticipated to exceed $10 billion, as Musk envisions the service achieving annual revenues of $30 billion.

Earlier this year, Gwynne Shotwell, president, SpaceX,  announced that the company had already achieved a cash flow-positive quarter and was on track to become profitable.

Last week, Musk indicated on a social media platform that Starlink had reached cash flow breakeven.

 

 

 


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VCON 2024: QNET Boosts Wellness Products with Cutting-Edge Technology

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QNET, a leading brand in the global direct selling industry, has disclosed significant improvements to its health and wellness products, leveraging the latest advancements in technology.

This development was announced at the ongoing V-Malaysia Conference (VCON) at the Penang Spice Convention Center, Penang in Malaysia, marking QNET’s 26th anniversary and the beginning of a new business model to foster entrepreneurship, self-reliance, personal development, and contribute to the economic growth of communities.

With 8000 people from 30+ countries in attendance, including Nigeria, the company’s representatives demonstrated how the improved health and wellness products enhance the overall health benefits and user experience, which further highlighted QNET’s commitment to innovation, well-being and genuine products and services.

According to Techeconomy.ng, QNET has integrated advanced biotechnology and nanotechnology into its nutritional supplements and personal care products which were unveiled at the conference themed: ‘Unstoppable’.

Read Also: V-Convention Underscores QNET’s Commitment to Transparency and Accountability – Biram Fall

These upgrades are designed to improve bioavailability, ensuring that essential nutrients are absorbed more effectively by the body.

Some of the improved products QNET unveiled at V-Malaysia 2024 are; EDG3 Plus, Amezcua Bio Disc 3, Amezcua Chi Pendant 4 and Amezcua E-Guard X, while its lifestyle products include the Home Pure Nova and Home Pure Zayn.

EDG3 Plus is a mixed-berry flavored powder supplement that contains amino acids that the body uses to produce glutathione. Glutathione is said to protect DNA from free radicals, fight pathogens, and pollutants.

On the other hand, the Amezcua Chi Pendant 4 is a wearable wellness device designed to balance a wearer’s energy field and promote overall health.

While Amezcua products are not intended to diagnose, treat, cure, or prevent any disease, they are designed with Amezcua’s proprietary pendant technology to maintain specific frequencies that harmonize the wearer’s biofield.

The pendant is said to, among other things, support against stress, protect from electronic pollution, promote quality sleep, and enhance productivity and creativity.

Read Also: QNET Reaffirms Commitment to Adhere to Ethical Practices, Local Laws & Regulations

The Amezcua Bio Disc 3 is a product that is said to restructure water molecules and increase energy levels.

During the demonstration session, the QNET team said Amezcua Bio Disc 3 is part of a holistic approach to pain management that also includes the Bio Light 3, which is designed to provide natural pain relief.

According to QNET, the enhanced product line will[D2] , help boost energy levels in the body thereby improving mental clarity, physical endurance and overall wellness. The company’s focus on research and development ensures that its products are not only scientifically backed but also align with modern health trends.

During a media chat, Mr. Trevor Kuna, the chief marketing officer (CMO) of QNET, said that with a local presence in 30 countries and a multilingual global support centre servicing 12+ languages across 14 hubs worldwide, QNET ensures seamless experience for its vast network of distributors and customers.

The company also boasts of six global logistics hubs and more than 50 product stockists globally, “further solidifying our international footprint”, he said.

He described Africa as an important market for QNET, He said QNET is contributing towards community development and empowerment of entrepreneurs to make extra income through direct selling on the continent.

According to Kuna, QNET’s business model does not support a ‘get-rich-quick’ mentality, rather a resilient spirit to remain ‘unstoppable’ despite challenges.

Read Also: QNET Unveils Amezcua Bio Light 3 & Bio Disc 3 for Peak Athletic Performance

He said the company will continue to partner with local authorities to weed out people who do not comply with the company’s ethical marketing policies. This, he said, will ensure only genuine Independent Representatives (IRs) of QNET get to promote QNET products to the public.

“QNET is a global direct selling company that sells products and services in areas such as health and nutrition, personal care, home and living, travel and luxury, and education. QNET’s business model aims to foster entrepreneurship, self-reliance, personal development, and contribute to the economic growth of communities”, he explained.

VCON also witnessed the unveiling of QNET’s Watch and Jewellery brand “Bernhard H. Mayer’s” Serendipity Collection, featuring jewellery made from sustainable materials and the Limited-Edition Wave Rider watch, highlighting QNET’s commitment to sustainable luxury.


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100Pay Expands Crypto Adoption with $200K Startup Fund

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100Pay, one of the leading players in the crypto payments industry, has announced a significant step forward in promoting cryptocurrency adoption across Nigeria with the launch of a $200,000 startup fund.

In addition to the funding, the platform also unveiled its new 4,000-square-meter headquarters in Port Harcourt, signaling a major step in its expansion plans across Africa.

The initiative, according to the crypto firm, is designed to support businesses and startups focused on integrating crypto payments into their operations, particularly through 100Pay’s innovative PAY Checkout platform.

The company said in a statement that the $200K fund aims to empower startups driving crypto adoption through PAY checkout, enabling them to access resources and support needed to implement crypto transactions in physical stores, e-commerce platforms, and mobile apps.

Some of the startups that already benefited from the fund include Everest Mobility, a ride-sharing platform; Cloudnotte, an edutech firm dedicated to making education more accessible; and Meedleman, an escrow service designed to protect freelancers and ensure timely payments.

According to 100Pay, its PAY token, which offers users discounted crypto payments, is central to this program, providing businesses with a seamless way to accept digital currencies straight to their local bank accounts.

“With over 20,000 businesses already onboard, we’re focused on making crypto more accessible for Nigerian businesses,” said Brainy Josh, CEO and founder of 100Pay.

“Our $200K startup fund is a key part of that vision, giving businesses the tools and support to attract crypto-savvy customers,” Josh remarked.

Josh revealed that the company’s infrastructure enables payment acceptance in over 20 cryptocurrencies.

He highlighted the platform’s capability for swift conversions from USDT and PAY tokens to Naira, thereby eliminating the need for peer-to-peer transactions.

He also disclosed that 100Pay’s infrastructure is driving HXAfrica, a Security and Exchange Commission-licensed housing exchange. According to him, HXAfrica simplifies real estate investment through tokenization.

The CEO disclosed that it is partnering with Nano Apps, a cross-platform app store, to support app developers within its ecosystem.

“We are also forming strategic partnerships with major tech and retail brands, including LG, Samsung, Hisense, and BRUHM.”

The company is also working with top e-commerce platforms, ride-sharing services, and utility payment apps to integrate its PAY Checkout system.

In terms of expansion, 100Pay is also creating job opportunities, with over 50 new hires and plans to add 1,000 jobs in the next 24 months, the CEO said.

“The company’s Port Harcourt headquarters is home to a growing team of engineers and customer support specialists,” he stated.


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Leverage technology to drive Nigeria’s STI, NOTAP DG urges stakeholders

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Dr Obiageli Amadiobi, Director General of the National Office for Technology Acquisition and Promotion (NOTAP) has admonished stakeholders in the Science, Technology and Innovation (STI) ecosystem to leverage on technology and Intellectual Property Rights (IPR) to drive to foster Nigeria’s STI commercialisation.

Speaking at a press briefing to commemorate the ‘African Day for Technology and Intellectual Property,’ Amadiobi said Technology and Intellectual Property Rights system have long been recognized as the foremost important factor in nation building and wealth creation.

She said, “Ideas and knowledge are increasingly becoming veritable instruments in international trade relations as codified in the Trade Related Aspects of Intellectual Property (TRIPS) under the World Trade Organization (WTO) agreement to which Nigeria has been a signatory since January 1, 1995.”

According to the NOTAP boss, the commemoration demonstrates the great importance which the African nations place on Science, Technology and Innovation as an engine that drives development.


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